What Is The Mileage Rate For 2024 Canada. The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their. The kilometric rates (payable in cents per kilometre) below are payable in canadian funds only.
$0.70 per kilometer for the first. Our free mileage reimbursement calculator for canada automatically applies the current 2024 cra.
For 2024, The Department Of Finance Canada Made Some Notable Changes To The Automobile Income Tax Deduction Limits And Mileage Rates, With The Initial Mileage Rate.
The cra has issued the mileage rate for 2024, applicable from january 1 until december 31, 2024.
From January 1St, 2024, Per Kilometre Rates Will.
The cra mileage rate in 2024 is set at 70 cents for the initial 5,000 kilometers and 64 cents for each subsequent kilometer.
What Is The Mileage Rate For 2024 Canada Images References :
70 Cents Per Kilometre For The First 5,000Km Driven;
64 cents per kilometre after that;
You May Provide An Allowance Or A Reimbursement To Your Employee To Compensate For Use Of Their Automobile Or Motor Vehicle In Connection With Or In The Course Of Their Office Or.
For 2024, the department of finance canada made some notable changes to the automobile income tax deduction limits and mileage rates, with the initial mileage rate.